WFMY News2

IRS delays taxing payment app income of $600, but you might get a form in the mail anyway

GREENSBORO, N.C. — Back in July, WFMY News 2 told you about the IRS's plan to send 1099-K forms to anyone who used a payment app last year and got a total of $600. The idea is to make sure any income ...
9NEWS

Yes, the IRS delayed the $600 tax reporting rule for payment apps

Payment apps such as Venmo, PayPal and Cash App were tasked under the American Rescue Plan of 2021 with sending 1099-K tax forms to the Internal Revenue Service (IRS) and to people who earned at least ...
Hosted on MSN

New IRS rules could change how you report payment app income

New IRS changes for popular payment apps like Venmo and PayPal could affect you this tax season. If you use these apps, you may owe taxes this year. Here’s what’s next and which kinds of payments are ...
Hosted on MSN

How the new IRS 1099-K reporting rule for payment applications works

The Internal Revenue Service (IRS) is set to introduce a pivotal change in income reporting through third-party payment apps. Under the new 1099-K reporting rule, platforms such as PayPal, Venmo, and ...
Hosted on MSN

IRS accepts other forms of payment if you cannot make it online

Every year, U.S. citizens are required to pay taxes to the IRS, a responsibility that is both unavoidable and essential. Failing to meet this obligation can result in penalties or fines, which no one ...